To date, selling a used vehicle is simple. For example blue books can be produced periodically for vehicles with a perceived market value of every car calculated as a function of for example, age, repairs and other variables. The way these prices are produced is typically simple: a large numbers of appraisers or valuation experts work around the clock; talking to businesses that sell these vehicles, thereby obtaining what they believe is a reasonable price to sell a specific car, with certain variables, within a given time frame. These prices are collected, processed internally and then published. Furthermore, these blue books are often considered a good source, which a buyer and seller can use as the basis to start negotiating.
Although an accepted practice with regard to vehicles, translation to other items is problematic. Whether the products are smartphones, photocopiers, laptops, etc. Often, a seller of such items will look at the prices of equivalent products on second-hand sales websites such as eBay, Amazon and the like. Such websites generally have a large range of prices for used goods with varying valuation methods, increasing uncertainty.
Accordingly, there is a need is for a reliable single source that offers a market value price for a variety of products with specific variables that are tailored for each product. Moreover, there is a need for that single source to be continuously updated.